Renova rejects AES Tiete bid for power assets

Renova rejects AES Tiete bid for power assets

Energy Renewable Brazil

Renova Energia has turned down a bid from AES Tiete Energia to acquire its 400 MW Alto Sertao plant and additional wind power assets amounting to 1.1 GW, the company disclosed in a securities filing.  AES Tiete made its bid last month.  Last May, Renova halted negotiations with Canadian investor Brookfield over the sale of the same assets, despite having previously accepted an offer for BRL650m ($168m) plus BRL150m in earn-out costs.  In August, Renova announced it was still looking to sell Alto

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial